Long Island Real Estate

Long Island, extending 125 miles in length, is comprised of Nassau County which was named for William of Nassau, Prince of Orange - and Suffolk County which was named for Suffolk County, England . Long Island, frequently referred to by New Yorkers as "the island", is located east of Manhattan on the southeastern tip of New York State and is the sixth wealthiest area in the United States. Prices of homes on Long Island continue to rise with the average home price in Nassau County in 2004 being $541,443 - which is an increase of 12.9% over the year 2003. The average price of homes in Suffolk County in 2004 is $402,373 - a 12.7% increase over that of 2003.

When giving consideration to where in Long Island you wish to purchase a home, one of the important issues is where the breadwinner works. If you commute to Manhattan, traveling time should be factored into your decision.

Here is an example of two very different communities as far as location on Long Island, amenities offered and price range.

Bay Shore is located in Suffolk County and attracts boating and fishing enthusiasts. It is a short ferry ride across to Fire Island and a 47 mile commute to midtown Manhattan. This historic town was initially settled in the early 1700's, was on a brief downward trend in the 1990's, and is now a flourishing community.

Starter homes in ranch, cape and split-level styles, with 2 to 4 bedrooms and 1 or 2 baths, with 1 car garages - some including basements - on lots of 50 x 100 to 75 x 125, sell in the price range of $200,000 to $280,000. Yearly taxes run from $4,200 to $6,000.

Homes at the next level up with 3 to 5 bedrooms, 2 or 3 baths, 1 or 2 car garage - on lot sizes 75 x 125 to 125 x 200 - sell in the price range of $350,000 to $700,000. Yearly taxes run from $6,000 to $11,000.

Luxury homes with 3+ bedrooms, 2+ baths, with basement and 2 car garage on ½ to 1 acre lots - some on waterfront - sell from $700,000 to $3.3 million with yearly taxes from $11,000 to $45,000.

For those of you on a tighter budget, many first-time home buyers from Brooklyn, Queens or the Bronx purchase homes in Elmont - which is known as the "Gateway to Nassau County". This town was originally settled by Thomas and Christopher Foster in 1647 and named Foster's Meadow with the name changed to Elmont in 1882.

Elmont is located only 19 miles from Manhattan which can be reached by the Long Island Railroad or a bus to Queens with a transfer to the subway.

Starter homes in this community are capes, with 3 bedrooms, 1 or 2 baths, a basement and 1 car garage. Lot sizes range from 40 x 100 to 60 x 100 with yearly taxes ranging from $5,000 to $5,500. The average home sells from $280,000 to $320,000.

The next level up includes cape, colonial and ranch style homes with 4 bedrooms and 2 to 3 baths, basement, 1 car garage and lots of either 50 x 100 or 60 x 100 with taxes from $6,000 to $5,800. Average home prices are from $340,000 to $380,000.

Luxury homes in Elmont are center hall colonial or high ranch style, with 4 or 5 bedrooms, 3 baths, a basement and 1 to 2 car garage. Rooms are larger than starter and mid price homes and luxury homes are of newer construction. Taxes range from $7,500 to $8,000 and homes sell from $420,000 to $460,000.

Spend some time on the computer researching the towns that interest you as there are many options available in Long Island real estate and hopefully, your MLS broker will help you find your dream home.

Visit MLS Long Island for more information on MLS Long Island Real Estate.

Although the Long Island School and other educational information on this site is believed to be correct, the information is provided on an "As Is" basis, and accuracy and/or completeness cannot be guaranteed. No warranty of any kind is given with respect to the contents of this website. Most data is sourced from New York State Department of Education.